House Sponsors: CAPPARELLI-LYONS,JOSEPH-BURKE-ACEVEDO, BUGIELSKI, BRADLEY AND MCKEON. Short description: PEN CD-CHGO POL-25 YRS ANY AGE Synopsis of Bill as introduced: Amends the Chicago Police Article of the Pension Code. Allows retirement at any age with 25 years of service. Amends the State Mandates Act to require implementation without reimbursement. Effective immediately. PENSION NOTE (Pension Laws Commission) The estimated increase in accrued liability due to HB 3375 is $19.6 million. The decrease in normal cost is estimated to be $1.8 million and the payment needed to amortize the estimated increase in the accrued liability over 40 years is $0.9 million. The estimated reduction in annual cost in the first year due to HB 3375 is $0.8 million, or 0.12% of payroll. Last action on Bill: SESSION SINE DIE Last action date: 01-01-09 Location: House Amendments to Bill: AMENDMENTS ADOPTED: HOUSE - 0 SENATE - 0 END OF INQUIRY Full Text Bill Status